www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Policy Watch

PBOC sets sights on 'zombie' financing vehicles

By Zheng Yangpeng (China Daily) Updated: 2014-01-18 08:00

PBOC sets sights on 'zombie' financing vehicles
The People's Bank of China said in an online statement on Thursday that it will "exhaustively clean up" local government financing vehicles that "have poor credit, ambiguous functions and unsustainable financial conditions". [Photo / Provided to China Daily]

The People's Bank of China has reiterated its resolve to root out "zombie" local government financing vehicles this year and ensure that urbanization funding moves through standard market channels.

The central bank said in an online statement on Thursday that it will "exhaustively clean up" local government financing vehicles that "have poor credit, ambiguous functions and unsustainable financial conditions".

These vehicles are separate agencies created by local governments to finance massive spending on highways, stadiums or public works. Their creation followed the 2008 stimulus program that helped China rebound quickly from the global financial crisis and subsequent economic downturn.

But analysts now believe that many LGFVs can't cover their debt payments. These entities were set up in haste, without any thought given to profitability, and the projects they backed don't generate sufficient revenue to make loan payments.

"The PBOC statement is more symbolic than substantive, and it's not the first time it said it will clean up LGFVs," said Li Yan, a senior analyst at China Chengxin International Credit Rating Co Ltd. "I assume specific rules will follow the pledge."

The central bank's statement was in line with that of the National Development and Reform Commission, which on Dec 31 said it will allow debt rollovers in an effort to avoid defaults by LGFVs.

Both statements were seen as confirming the belief that a growing number of LGFVs face repayment difficulties and will have to roll over their debt.

The NDRC's announcement came just one day after the National Audit Office's disclosure that China's local government debt and contingent liabilities had surged to 17.89 trillion yuan ($2.93 trillion) by the end of last June. That figure represented a 67 percent rise from previous audit results from the end of 2010.

Debt raised by LGFVs accounted for 39 percent of total debts, the NAO said.

Previous Page 1 2 Next Page

...
...
主站蜘蛛池模板: 亚洲最大情网站在线观看 | 精品国产一区二区三区不卡蜜臂 | 三级成人网| 国产三级精品久久三级国专区 | 免费一级真人毛片 | 美女视频黄a视频免费全过程 | 亚洲精品久久久久综合中文字幕 | 久久99国产精品久久99 | 亚洲成人影院在线 | 九草视频| 在线一区二区观看 | 亚洲第5页| 国产一区二| 亚洲欧美日韩久久精品第一区 | 久久免费精品国产72精品剧情 | 精品国产欧美一区二区最新 | 国产一级视频在线观看 | 亚洲一区二区久久 | 高清在线亚洲精品国产二区 | 免费的成人a视频在线观看 免费的毛片 | 韩国一级做a爰片性色毛片 韩国一区在线 | 亚洲高清国产品国语在线观看 | 99精品视频一区在线视频免费观看 | 亚洲精品手机在线 | 一级特黄特黄的大片免费 | 亚洲小视频| 久草在线免费资源站 | 午夜影院欧美 | 日韩中文精品亚洲第三区 | 国产喷水女王在线播放 | 黄色a一片 | 中文字幕人成乱码在线观看 | 久久久久国产成人精品亚洲午夜 | 亚洲网站免费观看 | ffee性xxⅹ另类老妇hd | 久久久久久久性潮 | 国产一级毛片亚洲久留木玲 | 国产成人综合95精品视频免费 | 欧美一级毛片片免费 | 步兵一区二区三区在线观看 | 男人操女人逼逼视频 |